Implementing fleet preventive maintenance can put an end to your struggles. It’s one of the most cost-effective methods to increase vehicle lifespan.
Inability to manage your fleet may result in poor vehicle conditions and endanger the drivers’ safety. That’s why taking good care of your vehicles is a must.
However, many decide to ignore regular check-ups. This alone can end with consequences and hinder the company in the long run. Remember Albert Einstein’s words: ‘’Intellectuals solve problems, geniuses prevent them’’.
While effective, fleet preventive maintenance requires a lot of work and attention to detail. Luckily, we live in a tech-driven world where blockchain technology is considered to be the future.
77% of executives are aware that not using blockchain technology will put their company at a competitive disadvantage. Nowadays, blockchain technology has a lot of use cases for a number of industries, but how can it actually improve fleet preventive maintenance?
Let’s dive in and find out!
Benefits of fleet preventive maintenance
Running a fleet business is not a joke. Fleet managers should really take timely precautions and detections seriously. The most effective way to do this is to implement fleet preventive maintenance, which is hugely beneficial for fleet businesses, meaning it can:
1. Reduce repair costs
We, humans, tend to procrastinate tasks and we all know how it usually turns out – – we drown in last-minute responsibilities. When it comes to vehicle maintenance, postponing it will only result in costly repairs.
How many times have you had setbacks because of an unexpected vehicle breakdown?
With a proper fleet preventive maintenance plan unexpected road stops are a thing of the past. You`ll never have to worry about clogged engines or hiring expensive tow vehicles. This will directly impact capital savings and can create more revenue for your company.
2. Increase the safety of your drivers
Keep in mind that vehicle malfunctions pose a threat to your drivers` safety and safety should always come first! Drivers are already facing dangers, so they should at least feel comfortable in the vehicle they’re driving.
Did you know that 130.000 people are injured in truck accidents every year? These numbers are indeed concerning, which is why safety should not be overlooked. With the fleet preventive maintenance program, vehicle check-ups will become a routine, resulting in a significant increase in safety for both drivers and vehicles.
3. Enhance customer experience
Customer satisfaction plays a key role in the success of your company. If you`re dealing with constant vehicle breakdowns, there’s a huge chance your business performance will suffer, due to deliveries not reaching customers on time. You want to avoid this at all costs and preventive maintenance is the best method to do so.
Fleet vehicles will always be in top condition and the probability of vehicle issues arising will be reduced to a minimum.
4. Reduce fuel consumption
Regular oil changes and tire maintenance can maximise your vehicles’ uptime. These timely precautions are the key to increasing fuel efficiency. Your vehicles will never spend more fuel than needed, which adds to fuel costs being significantly reduced.
How to streamline fleet preventive maintenance with blockchain technology
Blockchain is a decentralised ledger with a list of highly secured records. The term blockchain is usually associated with bitcoin, but it actually has various application areas. In the past few years, it found its use in fleet businesses.
The below listed points will explain how blockchain technology can help you streamline fleet preventive maintenance.
1. Connect blockchain to a vehicle’s telematics system
Fleet telematics is highly beneficial on its own, but when combined with blockchain it’s even more efficient. In the past, communication between fleet drivers on the road and fleet managers was almost impossible. A lot of time was needed for a vehicle issue to be addressed.
Nowadays, it’s a totally different situation. With access to blockchain technology, fleet managers are aware of the overall vehicle condition before it hits the road and are timely informed about every malfunction. Moreover, repair centres can quickly determine vehicle faults and help you schedule preventive maintenance check-ups.
Blockchain is mostly known for storing data. What does this mean for your fleets?
The whole performance and maintenance history of a vehicle will be securely stored. This can help you make the right decisions when buying a truck or a trailer because every piece of information needed will be at your fingertips.
2. Combine blockchain with IoT (Internet of things)
All of the sensors placed in fleet vehicles are helping fleet managers track vehicles’ location, the opening, and closing of doors, and cargo volume in real-time. However, what happens if this information is later needed for preventive maintenance?
That’s when blockchain technology comes into the picture. The information can be transmitted to a blockchain, where it will be stored and available to you at all times.
You might wonder why blockchain is needed for tracking when we already have GPS and RFID tags. The answer is simple, these methods are error-prone and can be subject to fraud. Blockchain, on the other hand, has many built-in security features, which makes it almost impossible to be hacked.
3. Purchase blockchain-based load-matching app
Load-matching app helps connect truck drivers with shipping companies. However, blockchain technology expands its uses. You can use it to your advantage to identify and coordinate efficient load distribution and transportation across distribution networks. It makes it easier for fleet management to cope with driver shortages and can also help you maximise fuel efficiency.
Blockchain is not only beneficial for fleet preventive maintenance but can help fleet management in two more areas as well:
- Effective payment methods. The most widely known use of blockchain technology is smart contracts. Basically, smart contracts are computer programs, which automatically run when predetermined conditions are met. This means that third parties aren’t involved in the process and there’s no need for going through a pile of documents.
The time has come for fleet management to also benefit from the use of smart contracts. Once the driver has completed the shipment contract, funds will immediately be transferred to the driver’s account, without additional time loss. You can rest assured that the transaction has been secure.
- Transparent shipping. You can now monitor all the loads a vehicle is carrying and all thanks to blockchain technology. You can even upload this information on a blockchain, which means it’ll be available to everybody. Every change will also be immediately updated.
This is a great way for customers to track their order until it arrives at their doorstep. Not only is this an effective shipping strategy, but it also establishes trust between the customer and the fleet business.
The drawbacks of blockchain technology
While blockchain has proven to be effective and doesn’t stop to amaze us, it has some drawbacks worth mentioning.
We’ve been familiar with blockchain for a while now, but it’s still relatively new, so there’s still a lack of adoption. For it to be able to achieve its full potential, it has to be accepted by a wide network of users. For example, a customer has to be familiar with this technology first before being able to track their orders.
Blockchain technology can also be expensive to implement, which is another major setback for businesses. Besides that, it consumes a lot of energy, which means huge amounts of server power are needed in order to run it.
While blockchain is all about transparency, not everyone agrees for their data to be available to the public. Obviously, it cannot be tampered with, but some transactions require more privacy.
It is indeed amazing and while it has its disadvantages, its acceptance is just growing with time. Blockchain technology is extremely helpful for the financial industry, but only time will tell if it’ll reach its trucking potential as well.
Can blockchain technology help the fleet industry?
Blockchain technology is still in its infancy. It’s too early to come to a conclusion, but for now, the feedback is positive. From tracking drivers and vehicles to reducing costs and improving customer experience, blockchain has proven to be a worthy investment for trucking industries.
Most importantly, blockchain can help develop a fleet preventive maintenance plan, which is of utmost importance for fleet performance.
Blockchain technology definitely has the potential of transforming the automotive industry. Prolonged vehicle life span, on-time deliveries, effective fleet preventive maintenance plan, and satisfied customers – – these are the things that make up a successful fleet business.
Obviously, blockchain can help your fleet business grow. It’s up to you to decide the future of your fleets, so what do you say, are you ready for future improvement?
Makedonka Micajkova is a freelance content writer and translator, always bringing creativity and originality to the table. Being multilingual with professional proficiency in English, German and Spanish, it’s needless to say that languages are her biggest passion in life. She is also a skilled communicator, as a result of having three years of experience as a sales representative. You can find her on Linkedin.